Friday, October 16, 2015
No Social Security Cost of Living Adjustment, 3rd Time Since 2009, But Medicare Premiums Surging for Some
James Green, Group Editorial Director, Investment Advisor Group analyzes the 2016 coming tragedy for a large segment of retirees - Medicare premiums will surge but the Social Security payment to pay it will not increase one cent. Read his analysis on ThinkAdvisor.
William Byrnes, associate dean for special projects at the Texas A&M University School of Law, characterizes the lack of a COLA and the increase in Part B premiums more bluntly. “It’s the Federal government’s way of mitigating expenditures on the backs of seniors” who have contributed to the Social Security system for decades.
Byrnes, who with colleague Robert Bloink writes the weekly Law Professor blog, which often focuses on retirement income planning, for ThinkAdvisor, argues that any inflation measure should be regionally based. “The orange still costs a buck,” and despite no inflation as measured by CPI-W, “the taxi costs $4.50.” While “in some town in America” inflation might be down, the CPI-W data “doesn’t work across our country.”